Gold gains on dollar retreat--

Gold prices rose on Monday, helped by a pullback in the dollar, while investors looked forward to US inflation data due later this week that could offer more clarity on the Federal Reserve's monetary policy, reports Reuters.

Spot gold was up 0.3 per cent to $2,327.81 per ounce as of 1401 GMT. US gold futures rose 0.4 per cent to $2,340.80.

The dollar fell 0.5 per cent against its rivals, making gold attractive for other currency holders.

Gold is in consolidation mode here and we see active buying on dips. Traders are looking for the trajectory of interest rates moving forward and the timing of those potential rate cuts, said David Meger, director of alternative investments and trading at High Ridge Futures.

Elsewhere, spot silver rose 0.3 per cent to $29.60 per ounce and platinum gained 1.1 per cent to $1,003.07.

Palladium climbed 6.3 per cent to $1,008.32.In the previous session, prices hit a one-month high and breaking above the key level of $1,000 per troy ounce in volatile trade as some investors covered their short positions and the market was tight for nearby physical supply.